Market Debut: Ideal Technoplast Industries lists at ₹132.10 on NSE SME, a 9.25% premium to IPO price

Ideal Technoplast Industries listing: Shares of Ideal Technoplast Industries made a decent debut on the bourses today, August 28. The stock listed at ₹132.10 on NSE SME, a 9.25 percent premium to its issue price of ₹121.

The ₹16.03 crore SME IPO (initial public offering) was open for bidding between August 21, 2024 and August 23, 2024. The issue received witnessed strong demand in these 3 days and was subscribed 116.75 times. It received bids for 14.68 crore shares as against 12.58 lakh on offer. The Retial Investor category was subscribed 115,57 times while the 'others' quota was bid 108.49 times.

About the IPO

Ideal Technoplast Industries IPO was entirely a fresh issue of 13.25 lakh shares. The proceeds from the fresh issue will be used primarily to cover capital expenditure and for general corporate purposes.

The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹1,21,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹2,42,000.

Swastika Investmart was the book running lead manager of the Ideal Technoplast Industries IPO, while Bigshare Services Pvt Ltd was the registrar for the issue. Meanwhile, the market maker for the IPO was Sunflower Broking.

About the firm

Established in 2012, Ideal Technoplast Industries Limited specializes in the manufacturing of rigid plastic packaging, catering to both domestic and international markets through export companies and third-party distributors.

Ideal Technoplast provides a range of industrial packaging solutions, including round and square containers, twist containers, and bottles, serving various industries such as paints, agrochemicals, cosmetics, adhesives, lubricants, food, and edible oils.

The company boasts advanced manufacturing capabilities, featuring in-house design and printing technologies. Their production facility in Surat, which covers an area of 20,000 sq. ft. across multiple floors, is equipped with state-of-the-art technology, including a fully automated production line.